Absa Bank Kenya PLC has reported a 10 per cent growth in profit after tax, reaching Sh22.9 billion for the year ended 31 December 2025, driven by resilient revenue streams, disciplined cost management, and improved asset quality. The lender’s total revenue for the period stood at Sh61.4 billion, reflecting the impact of changes in the interest rate environment. While net interest income declined by 6 per cent to Sh43.3 billion, non-interest income grew strongly by 12 per cent to Sh18.1 billion, largely supported by expansion in the payments business and digital channels. Speaking during the release of the annual financial…
Author: NBM CORRESPONDENT
In a thrilling finale to the Nairobi County Cricket Association (NCCA) T20 League, Swamibapa A emerged victorious, defeating Sir Ali A by a resounding 10 wickets at the Ruaraka ground to retain their T20 Crown in style. The match was a masterclass by the Swamibapa A team, who showcased exceptional bowling and batting prowess without losing a single wicket. Sir Ali A, who won the toss and elected to bat first, were restricted to a paltry 88 runs in 17.2 overs. Shem Ngoche was the star of the match, claiming 4 crucial wickets to help Swamibapa A restrict their opponents…
Kenya’s golf calendar is set to welcome a new fixture as the inaugural Invest Kenya Golf Tournament (IKGT) tees off on 27th March 2026 at Muthaiga Golf Club. The tournament, which will be played in a Stableford format, is expected to attract approximately 200 players, including local and international corporate players and selected professional golfers from Kenya’s expanding golf scene. Hosted at Muthaiga Golf Club, one of Africa’s most prestigious championship courses and home to leading international tournaments, the event adds a high-profile fixture to Kenya’s golf ecosystem while reinforcing the country’s reputation as a major golf destination. Absa is…
For Li Qiaoyang, a young travel enthusiast from east China’s Shandong Province, a dream vacation isn’t museum hopping in Europe or a beach break in Southeast Asia. Instead, he’s dreaming of the wild African savannah. “I have been to Egypt and Morocco in North Africa, and I want to travel to Tanzania this year to photograph animals,” said Li, who was born in the 1990s. Having explored the pyramids and the Luxor Temple in Egypt in 2016, and taken a road trip through Casablanca and the Sahara Desert in Morocco in 2020, Li is captivated by the African continent. “Africa’s…
Nikhil Sachania, the fearless paraplegic rally driver, is gearing up to defend his WRC 3 title at the upcoming WRC Safari Rally Kenya. The Nairobi-based driver is almost ready to hit the dusty roads of Kenya, with his Ford Fiesta Rally3 undergoing final preparations in the Kenyan Capital. “We are almost there,” Sachania said in an interview. “The car is prepared, just a few more things before we are ready for the rally. It’s the same car we used last season, and we won the WRC3 category. We hope to push for the same this year, although it will be…
The Kenya Pipeline Company (KPC) has presented a KSh 500,000 sponsorship cheque to staff member Ms. Linet Ayuko in support of her participation as a navigator in the upcoming WRC Safari Rally scheduled to take place in Naivasha from 12th to 15th March 2026. Ms. Ayuko will be competing as a navigator alongside her driver, Pauline Shegu, in one of the most iconic events on the World Rally Championship calendar. The Safari Rally attracts international drivers, teams, media and motorsport enthusiasts from across the globe, positioning Kenya prominently on the world stage. The sponsorship underscores KPC’s continued commitment to empowering…
The Competition Authority of Kenya (CAK) has imposed a penalty on Guaranty Trust Bank Kenya Limited (GT Bank) for what it describes as misleading representations and unconscionable conduct against one of its corporate clients. The watchdog has ordered the lender to pay a pecuniary penalty of Sh33.2 million representing 2% of its gross annual turnover for 2023, in addition to refunding Sh13.2 million to the complainant, ASL Limited, for improperly levied fees and charges. Following this move, GT Bank appealed the decision to the Competition Tribunal, and the matter is now sub judice. CAK’s ruling stems from a complaint lodged…
Kenyan retirees promise of a dignified retirement has too often ended in frustration years after leaving formal employment, some discover that the pension contributions deducted faithfully from their payslips were never remitted to their retirement schemes. The delays, and in some cases complete failure, to release retirement funds have become a long-running source of anxiety among the people who have helped grow thhe economy, eroding trust in the country’s pension system. That frustration is now driving a major policy shift with the government considering changes that would bring the Kenya Revenue Authority (KRA) into the heart of pension collection, making…
Download Nairobi Business Monthly Magazine – Jan/Feb 2026 Edition SPECIAL PRICE: Ksh 150 ONLY (was Ksh 200) COVER STORY: “Why KRA is itching to raid your bank account” — The taxman now has power to tax unexplained deposits. We sat down with KRA’s head of legal services for the full exposé. INSIDE THIS ISSUE: Sh1.9 BILLION BROKER WAR: How bitter battle between new NSE CEO and brokers almost triggered stock market collapse (Page 28) KENYA PIPELINE IPO: Sh106 billion listing + Safaricom share sale lifts NSE to historic high (Page 32) DIAGEO IN COURT: Damning Sh3 billion suit over abuse…
CIC Insurance Group is moving away from its traditional “land-heavy” balance sheet to embrace a more liquid financial model. This transformation is currently centered on the disposal of non-core real estate assets in areas such as Kiambu and Kajiado. CIC is selling 200 acres near Tatu City, Kiambu and 495 acres in Kajiado. The Nairobi-based underwriter is now focused on subdividing 200 acres of prime land located near the burgeoning Tatu City. This project, branded as Ushirika Gardens, represents a sophisticated pivot from the company’s initial attempts to sell the land as one block. Management recognized that the market for…
